KEY TAKEAWAYS Google parent Alphabet has struck a deal to buy cybersecurity startup Wiz for $32 billion in an all-cash transaction, the tech giant’s largest acquisition ever. Wiz will join Google's cloud business if the deal is approved by regulators.

Google owner Alphabet will buy cybersecurity firm Wiz for $32 billion — in a deal set to boost the tech giant’s in-house cloud computing amid burgeoning artificial intelligence growth.

The deal, which would be Alphabet’s largest to date, comes after Wiz turned down a $23 billion bid from the internet search leader last year after several months of discussions. At the time, Wiz walked away after deciding it could ultimately be worth more by pursuing an initial public offering company.